Instrument: US100
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 12991.28 with take profit at 13048.40
Bearish Preference:
A sell position is envisaged if the price trades below price 12903.32 with take profit at 12853.06
Fundamentals:
No Major Fundamental
Comment:
U.S. stock index futures edged higher on Monday after a buyout deal for failed Silicon Valley Bank’s deposits and loans helped soothe some jitters around severe stress in the banking sector. First Citizens BancShares Inc said on Monday it will acquire parts of Silicon Valley Bank, the collapse of which earlier this month marked the largest bank failure since the 2008 financial crisis, unleashing fears about a liquidity crunch in the sector. U.S. Treasury yields edged higher on Monday as some fears about the banking sector eased. Despite the turbulence in financial markets, all three major Wall Street indexes logged gains last week, with the benchmark S&P 500 and the Nasdaq on course for a quarterly gain. Investors are also awaiting a host of economic data this week, including a consumer confidence reading and an inflation report that could give more clues about the Fed’s monetary policy path.
Analysis: SCRUM Team
